Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023.
REUTERS/Mike BlakeNEW YORK (Reuters) - Citigroup CEO Jane Fraser said on Friday that top employees were on board with the company’s sweeping reorganization, and that there was “no room for bystanders” in the bank’s biggest overhaul in almost two decades.
“The case for change is pretty clear - our people want to succeed and our highest performers got behind this very quickly,” Fraser told CNBC.
The company began discussions about layoffs soon after announcing the reorganization, sources close to the situation told Reuters this month.
Bank of America CEO Brian Moynihan also predicted the economy would achieve a soft landing in comments earlier this week.
Persons:
Jane Fraser, Mike Blake NEW, ”, ” Fraser, Fraser, Brian Moynihan
Organizations:
Citi, Milken, Global Conference, REUTERS, Mike Blake NEW YORK, Citigroup, CNBC, Federal Reserve, Bank of America
Locations:
Beverly Hills , California, U.S